FG Approves Textile Development Board and $90bn Agribusiness, Livestock Growth Plan
The National Economic Council (NEC), chaired by Vice President Kashim Shettima, has approved the establishment of the Cotton, Textile, and Garment Development Board (CTGDB), aiming to regulate Nigeria’s textile sector. The board, which will be funded by the Textile Import Levy collected by the Nigeria Customs Service (NCS), is set to resuscitate a once-thriving industry. The goal is not only regulation but the revitalization of cotton production and local textile manufacturing, which Shettima says will empower communities, stimulate industrial growth, and reduce the country’s reliance on textile imports.
In addition to the CTGDB, the NEC approved new strategies for agribusiness and livestock development, aiming to generate up to $90 billion in economic value by 2035. The strategies focus on expanding the agribusiness sector and transforming the livestock industry, particularly through modernizing cattle ranching and fostering peace-building initiatives. The federal government’s plan also includes the creation of the Green Imperative Project (GIP) national office in Abuja and regional offices across Nigeria’s six geopolitical zones to address challenges in the country’s animal husbandry practices.
The NEC highlighted the importance of strengthening Nigeria’s food security by building an inclusive, efficient, and sustainable national food economy. This approach follows the Nutrition 774 Initiative and will prioritize investments in the agribusiness and livestock sectors. A critical component of the transformation will be the National Livestock Growth Acceleration Strategy, which integrates investments in animal health, zoonoses control, and breed improvement, with the goal of boosting Nigeria’s livestock sector to $90 billion by 2035.
Lastly, the Federal Ministry of Livestock Development (FMLD) presented a strategy focused on modernizing Nigeria’s livestock sector. The plan includes building a partnership between state governments, private sector players, and foreign investors. This collaborative approach aims to develop a sustainable livestock value chain, particularly for cattle ranching, and transform Nigeria into a key red meat exporter to Middle Eastern and Asian markets. The initiative will also strengthen existing investments and create opportunities for job growth and export-driven economic development.
Source: This Day